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Ripple CEO: SEC drops appeal of case against crypto company

Ripple CEO Brad Garlinghouse announced on Wednesday that the U.S. Securities and Exchange Commission is dropping its appeal in the lawsuit filed against Ripple just over four years ago.
The SEC's lawsuit, initiated in 2020, alleged that San Francisco-based Ripple violated U.S. Securities laws by selling XRP without registering it with the agency.
Ripple fought back, arguing that the lawsuit was government overreach and that its currency, XRP, was not a security requiring regulation.
Garlinghouse stated, "It's over," and characterized the SEC's actions as "a long overdue surrender," while a judge ruled in 2023 that XRP is not necessarily a security on its face, according to CNBC.
Following the announcement, XRP, the third-largest cryptocurrency by market value behind Bitcoin and Ether, surged about 11% for the day.

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CNBC

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Crypto's long battle with SEC comes to a close with Ripple victory

Ripple said this week that the SEC had officially dropped its four-year-old lawsuit against the company, ending a long battle between the regulator and crypto.

11 days ago·United States

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City News

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XRP jumps 8% after Ripple's CEO says SEC has dropped its case against the crypto currency

BANGKOK (AP) — The price of XRP jumped more than 8% Thursday after the CEO of cryptocurrency company Ripple said U.S. regulators have dropped its four-year-old case against the company. The Securities and Exchange Commission sued Ripple and two of its executives in late 2020 after they raised $1.4 billion by selling XRP crypto coins. […]

13 days ago·Toronto, Canada

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DNyuz

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SEC drops case against crypto firm with ties to Trump, CEO says

The Securities and Exchange Commission has ended its yearslong case and appeal against a cryptocurrency firm whose CEO has ties to the White House, the CEO said Wednesday. Brad Garlinghouse, the CEO of Ripple Labs, said on the social media platform X that the case against his company “has ended.” “Today is a victory — and a long overdue surrender by the SEC,” he said. An SEC spokesperson declined to comment to ABC News. The move, which was not c…

13 days ago

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The Southwest Iowa News Source

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Ripple CEO: SEC drops appeal of case against crypto company

(The Center Square) – The U.S. Securities and Exchange Commission under the Trump administration is dropping its appeal in its lawsuit against Ripple, a blockchain-based digital payment company, Ripple CEO Brad Garlinghouse said Wednesday.

13 days ago

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Fast Company

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Why is XRP up today? Crypto coin price surges after Ripple CEO says SEC dropped landmark lawsuit

Ripple’s cryptocurrency XRP has spiked after the SEC said it would drop its lawsuit alleging that the company was selling unregistered securities. The price for XRP has gone up by 14% after the Wednesday morning announcement. The SEC’s move is just one of many instances of the agency beginning to ease up on the cryptocurrency industry during the Trump presidency. In December, CNBC named XRP “the biggest winner” of the post-election economy. Sinc…

13 days ago

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March 27 Could Seal Ripple’s Legal Victory as SEC Nears Final Vote

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6 days ago

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